Global Pharmacy Retail Market is standing strong at $ 600 Billion in 2022– Will it be able to achieve the trillion-dollar mark by 2027?: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The global Pharmacy Retail market was valued at USD 600 Bn in 2022 and is projected to reach USD 1 trillion by 2027. The COVID-19 pandemic has fueled growth in both traditional pharmacy retail outlets and online pharmacy channels. Medical retail outlets were classified as essential services globally, but due to the virus’s fear, online pharmacies emerged as the most dynamic channel for obtaining drugs and devices. The online pharmacy sector has seen an increase in orders for medical devices, personal protective equipment, health supplements, and common drugs as a result of the various waves of COVID-19. To Know More about this report, download a Free Sample Report 1. People aged 65+ are projected to grow to nearly 1 billion in 2030, with most of the increase in developing countries, which will drive retail pharmacy growth According to the Office of Disease Prevention and Health Promotion, the first Baby Boomers (those born between 1946 and 1964) turned 65 in 2011. By 2030, it is projected that more than 60% of this generation will be managing more than 1 chronic condition. Managing these chronic conditions, along with a patient’s level of disability, will increase the financial demands on our healthcare system which will increase the stress on the pharmacy chain industries. 2. With the increasing population growth in Tier II and Tier III cities, there is an untapped potential for retail pharmacies in their market Visit This link:- Request for Custom Report E-Pharmacies still have a lot of scope for expansion in tier II and III cities, that can be achieved by making huge investments for the improvement of logistics channels in these cities. Presently, close to 55% of the global population today is living in tier-2 & tier-3 cities. In such areas, the local pharmacy becomes the go-to place for all healthcare services. Furthermore, statistics show that for every 1000 people, there is 0.83 pharmacist available. Since many doctors are not able to reach people living in tier-2 & tier-3 cities, local pharmacies can become huge healthcare support by going online and providing quick, trusted, & efficient healthcare solutions. 3. Digiceutical Apps Also known as “digital therapeutics” are Improving patient outcomes through convergence In 2018, there was a massive growth in investment in the field of digital therapeutics, and the Food and Drug Administration (FDA) has actually been on board with the trend for quite some time as well. In late 2017, they launched a digital health pilot program, which included 9 companies. Among the participants were the big guys like Apple, Samsung, and Johnson and Johnson, yet small-but-mighty startups were also included. One such startup is Pear Therapeutics, which has already received FDA approval for two of its app products; one for substance abuse, and the other specifically for opioid use. The goal of the program is to soften the regulatory requirements for digital health companies with proven records of developing and testing quality products. 4. Huge E-commerce websites like Amazon are becoming a threat to other pharmacies’ retail stores worldwide The company is a threat to retail pharmacies on multiple fronts. Initially, the emergence of Amazon.com gave consumers less of a reason to do in-person shopping for general merchandise. Then the company got into the prescription game with its 2018 acquisition of PillPack and the 2020 launching of Amazon Pharmacy and an Amazon Prime prescription discount benefit. And then, just a few months ago, Business Insider reported that Amazon was looking to create physical pharmacies. Whether that comes to fruition — and what it would look like — remains to be seen, but one thing is clear: Amazon will continue to be a thorn in the side and strain the bottom line of retail pharmacies. For more insights on the market intelligence, refer to the link below:- Global Pharmacy Retail Market Follow Us Facebook | Twitter | LinkedIn | Instagram Post Views: 3 Tags: Ahold Delhaize revenue, Albertsons Companies Inc. 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